iRASD Journal of Economics <div style="text-align: justify;"><em><span data-contrast="auto">i</span></em><em><span data-contrast="auto">RASD</span></em><span data-contrast="auto"> Journal of Economics (JOE) is an international research journal in the field of economic sciences. <em>i</em><em>RASD</em> Journal of Economics (JOE) is a double-blind peer</span><span data-contrast="auto">-</span><span data-contrast="auto">reviewed research journal</span><span data-contrast="auto"> that is published bi-annually by the International Research Association for Sustainable Development (<em>i</em>RASD). <em>i</em><em>RASD</em> Journal of Economics (JOE) addresses the current issues being faced by the international economies and publishes articles related to the topics of economics and its related fields</span><span data-contrast="auto">.</span><span data-contrast="auto"> <em>i</em><em>RASD</em> Journal of Economics (JOE) is committed to providing open access to all its published content. </span></div> <div style="text-align: justify;"><span data-contrast="auto"><strong>Online ISSN:</strong> 2709-6742</span></div> <div style="text-align: justify;"><span data-contrast="auto"><strong>Print ISSN:</strong> 2709-6734</span></div> International Research Association for Sustainable Development (iRASD) en-US iRASD Journal of Economics 2709-6734 Productive Efficiency of the European Union Member Countries: An Economic Assessment in Post?Brexit Perspective <p>This study used a modified Cobb-Douglas production model to estimate and test production input co-efficient for Group 28 (including the U.K), Group 27 (excluding the U.K) and individual European Union member countries by using the data of 31 years from 1990 to 2020. Results indicate that the log-linear C-D production model fits the data very well in terms of capital, male and female labour force elasticities, measuring the return to scale, standard errors and economies of scale for Group as well as for individual member countries. Results showed EU 28, EU 27 and from the list of member countries only United Kingdom, Slovak Republic, Slovenia, Czech Republic, Malta, Cyprus, Poland, Hungary, Estonia, Finland, Germany and Netherland are on increasing return to scale, only France is a constant return to scale (as value 0.99, close to 1) and remaining countries are on decreasing return to scale. The study also finds that the United Kingdom as an individual performing increasing return to scale so U.K separation (Brexit) from EU will not harm the U.K and even EU itself, as EU is on increasing return to scale after including/excluding U.K. Study also finds that EU as a group of 27 member countries exhibits increasing return to scale, which is a symbol for overall EU growth and development and suggestion for East Asian and South Asian countries to make a trading bloc or union like European Union.</p> Rukhsana Rasheed Mazhar Nadeem Ishaq Rabea Anwar Copyright (c) 2022 Rukhsana Rasheed, Mazhar Nadeem Ishaq, Rabea Anwar 2022-04-13 2022-04-13 4 2 164 172 10.52131/joe.2022.0402.0070 How to Develop Social Equity for Consumers? A Technology-Based Framework <p>In the business sector of Pakistan, social equity is still an unaddressed and conflicting issue. The objective of this study is to highlight the factors playing a key role in maintaining social equity and to develop a sense of satisfaction among consumers of Pakistani market segments to provide them with a way to best business practices and importantly, for emerging businesses. This study was conducted with the help of a questionnaire, and the responses were collected from 700 respondents. The hypotheses were developed with careful evaluation of existing literature, and data was collected from diverse respondents in the Pakistani business and market sectors. This study concludes that to develop social equity for a community, the role of digitalization, a sense of security, and information communication technology are important. The significance of this study is to develop sustainable business activities and ensure the concept of social equity in the Pakistani environment by addressing the theoretical gap and providing recommendations based on responses taken from the diverse consumers.</p> Waseem Ul Hameed Asifa Jahangir Ali Junaid Khan Jawad Iqbal Copyright (c) 2022 Waseem ul Hameed, Asifa Jahangir, Ali Junaid Khan, Jawad Iqbal 2022-05-17 2022-05-17 4 2 173 186 10.52131/joe.2022.0402.0071 The Effect of Covid-19 on Bank Profitability Determinants of Developed and Developing Economies <p>We have learned from the Covid 19 crisis that pandemics are inevitable, and the financial systems need to be ready to withstand such global shocks. This study aims to uncover determinants that are vital in maintaining bank profitability during such a crisis by providing evidence on how Covid-19 impacted bank profitability. Additionally, we test whether the crisis moderated the relationship between typical determinants and bank profitability across developed and developing economies. The study uses generalized least squared dummy variable model estimation. Six-year quarterly bank specific data of the top 10 countries from South Asia and Europe based on the highest GDPs is used. The study finds evidence of a significant impact of the pandemic on bank return on assets and equity. Additionally, the evidence suggests that covid-19 impacted bank profitability differently across the developed and developing countries. Covid-19 caused profitability to fall in the homogeneous European banks, whereas profitability increased for South Asian banks during the Covid crisis. We find that the pandemic moderated the relationship between bank profitability and its determinants. Credit quality and bank efficiency became less important in determining bank profitability during the Covid period. In contrast, bank size and maintaining liquidity became more important determinants. Additionally, the magnitude of capital ratio as a determinant of return on assets decreased during Covid. The moderating role of covid-19 on bank profitability determinants would be of value to both academicians and practitioners.</p> Javeria Haider Khalil Ullah Mohammad Copyright (c) 2022 Javeria Haider, Khalil Ullah Mohammad 2022-05-18 2022-05-18 4 2 187 203 10.52131/joe.2022.0402.0072 Impact of Foreign Direct Investment, Rising Oil Prices, and Industry Value Added on Economic Growth of Pakistan <p>Rising oil prices, foreign direct investment, and industrial value-added are the key component that affects the economic stature of a country. This study locates the relationship between FDI, rising oil prices, and industry value added on the economic growth of Pakistan. To do the analyses, data length ranging from 1980 to 2020 was used. For the regression results, the analytical technique of Autoregressive Distributed Lag (ARDL) is incorporated. The empirical results show that FDI encourages economic growth. Nevertheless, industry value added is also located for positive affectation on economic growth. However, rising oil prices are found to have negative effects on economic growth. Similarly, the combined effect of oil prices and FDI are found discouraging for economic growth. As a policy option, the government of Pakistan must need to encourage FDI inflows and should step up toward industrialization. On the other side, rising oil prices be controlled at the maximum extent as it is damaging to economic prosperity.</p> Khawaja Asif Mehmood Ahsan Iqbal Furrukh Bashir Rashid Ahmad Copyright (c) 2022 Khawaja Asif Mehmood, Ahsan Iqbal, Furrukh Bashir, Rashid Ahmad 2022-05-19 2022-05-19 4 2 204 214 10.52131/joe.2022.0402.0073 Is the Impact of Technological Innovations on Environment Quality Symmetric or Asymmetric? Vietnam and Switzerland Evidence <p>Governments and corporations are investing progressively heavily in research and development for sustainable energy solutions that would increase capital goods efficiency and conserve energy, based on the idea that technological discoveries would successfully decrease deadly greenhouse gas emissions. From 1980 to 2019, the current study investigated symmetrical and asymmetrical relationships between environmental quality, patent, and trademark in Vietnam and Switzerland. ARDL approaches were used, both linear and nonlinear. The outcomes of the nonlinear analysis reveal that asymmetricity exit between technological innovations and environment quality in both Switzerland and Vietnam. In Switzerland, negative shock in the patent has a negative significance, and negative shock in trademarks has positive significant asymmetric effects on CO2 emissions in the short run. In Vietnam, positive shocks in technological innovations have substantial negative asymmetricity with the environmental pollution in the long run. Moreover, positive shocks in both trademark and patent have significant negative, whereas adverse shocks in trademark and patent have positive asymmetric effects on CO2 emissions in the long run. Public policy should fund technological innovations projects, including developing suitable technologies that can create complementarity between increased economic growth and reduced environmental impact.</p> Zubair Tanveer Waheed Ahmad Nabila Asghar Hafeez ur Rehman Copyright (c) 2022 Zubair Tanveer, Waheed Ahmad, Nabila Asghar, Hafeez ur Rehman 2022-05-20 2022-05-20 4 2 215 231 10.52131/joe.2022.0402.0074 Efficacy of Sin Tax and Recommendations for Implementation of Tobacco Tax Regimen in Pakistan <p>Behavioural economics is a comparatively recent topic that challenges the mainstream economics’ basic assumptions. It emphasizes that humans aren't always rational, aren't always self-interested, and don't always have time-consistent preferences. A sin tax is a type of sumptuary tax that is imposed on some typically socially prohibited items and services, like liquor, cigarettes, SSBs, and gambling. Sumptuary taxes, which are a type of sumptuary regulation, are presumably meant to reduce transactions involving something that society finds undesirable. Tobacco usage continues to be one of Pakistan's most pressing development concerns. Tobacco products usage is the foremost reason of death from non-communicable diseases (NCDs), such as cancer, lingering breathing illnesses, and cardio vascular diseases (CVDs). Tobacco taxation, which is widely recognized as a fundamental component of tobacco regulating policy, is utilized in Pakistan to combat tobacco use with the dual goals of public health promotion and income collection. Behind the scenes, the tobacco industry's success is based on a lack of understanding of real economics. Despite the fact that tobacco usage is linked to a number of negative health outcomes, higher health costs, and overworked health systems, the tax incomes it creates often encourage policy inertia in low-income countries like Pakistan. It is important that while taxing the sin of tobacco consumption the basic goal should be discouraging the behaviour and not income generation.</p> Saqib Munir Khawaja Zeeshan Waheed Muhammad Shakeel Copyright (c) 2022 Saqib Munir, Khawaja Zeeshan Waheed, Muhammad Shakeel 2022-05-22 2022-05-22 4 2 232 242 10.52131/joe.2022.0402.0075 Role of Women in the Economic Development of Pakistan: Theoretical Insight <p>It is an undeniable fact that women has marched alongside men in every sphere of life for the enrichment, development and progress of the human civilization. Similarly, their vital contribution has been realized in every walk of like, from the bond of family to the collective notion of society and within this societal role their valuable emancipation in economy in commendable. Today, the history has also witnessed and acknowledged women’s participation in all the related fields. Accordingly, this study is focusing the role of women particularly in the economic development of Pakistan. Qualitative analysis techniques are used in finding the purposed objectives of this research. Reference from past researches are taken in support of the given idea and building the final analysis. The results show that women can play a proactive role in the economic development of any country if they get enough support in the respective fields and the government will also provide some beneficial policies in this regards. The study also concludes that by giving due share, providing opportunities and respecting the rights of women throughout their lifetime, women are capable to do marvelous in all fields of life as the society and economy expect from a productive member of a society.</p> Muhammad Arif Khan Ali Imran Shahnawaz Muhammad Khan Hafiz Khuram Jamil Qureshi Copyright (c) 2022 Muhammad Arif Khan, Ali Imran, Shahnawaz Muhammad Khan, Hafiz Khuram Jamil Qureshi 2022-05-20 2022-05-20 4 2